Saturday Trades Friday Update 3/15/2024 – Bubba Trading

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Saturday Trades Friday Update 3/15/2024

The Big Chop Continues

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Password: 888848

Markets continue the big chop moving up and down while hovering near all time highs. The tops appear to be in or near and selling should start to take the lead.

We are not predicting the tops are in, however the price action suggests that they are. This does not mean they will go down today. If there is another big rally we suspect that will define the end of the rally.

In the meantime, trade the levels and keep yourself nimble and without opinion.

Many of our positions expire today, on all expiring make sure to get rid of all extra options that have any value. All rolls should be filled

Roll SPY, QQQ to Monday

Rolls

TOST – Buy to close 1 March 15th 24.5 Straddle/ Sell to open 1 March 22nd 24.5 Straddle Credit .90

SE – Buy to close 1 March 15th 59/56 Strangle/ Sell to open 1 March 22nd 59/56 Strangle Credit 1.50

RIOT – Buy to close 1 March 15th 15/14 Strangle/ Sell to open 1 March 22nd 15/14 Strangle Credit .75

MARA – Buy to close 1 March 15th 29/26 Strangle/ Sell to open 1 March 22nd 29/26 Strangle Credit 2.00

AAPL – Buy to close 1 March 15th 182.5/177.5 Strangle/ Sell to open 1 March 22nd 182.5/177.5 Strangle Credit 1.85

ZM – Buy to close 1 March 15th 64/61 Strangle/ Sell to open 1 March 22nd 64/61 Strangle Credit 1.00

Exercise and Assignment

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New Trades

OPEN TRADES

(Some of the call strikes could be different from what you are holding. I’m reflecting the rolls made on the open, some of you rolled again. This is a guide)

TOST – (4.10) (90.00 Credit Collected)
Short 1 March 22nd 24.5 Call
Short 1 March 22nd 24.5 Put
Long 2 April 19th 25 Call
Long 2 April 19th 24 Put

SE – (9.30) (350.00 Credit Collected)
Short 1 March 22nd 59 Call
Short 1 March 22nd 56 Put
Long 2 April 19th 55 Call
Long 2 April 19th 60 Put

SPY – (20.20) (400.00 Credit Collected)
Short 1 March 18th 520 Call
Short 1 March 18th 510 Put
Long 2 April 19th 522 Call
Long 2 April 19th 508 Put

QQQ – (23.72) (400.00 Credit Collected)
Short 1 March 18th 451 Call
Short 1 March 18th 439 Put
Long 2 April 19th 454 Call
Long 2 April 19th 436 Put

AAPL – (10.07) (520.00 Credit Collected)
Short 1 March 22nd 182.5 Call
Short 1 March 22nd 177.5 Put
Long 2 April 19th 185 Call
Long 1 April 19th 175 Put
Long 1 April 19th 170 Put

RIOT – (5.40) (320.00 Credit Collected)
Short 1 March 22nd 15 Call
Short 1 March 22nd 14 Put
Long 2 April 19th 16 Call
Long 1 April 19th 13 Put
Long 1 April 19th 10 Put

MARA – (14.78) (7.17 Credit Collected)
Short 1 March 22nd 29 Call
Short 1 March 22nd 26 Put
Long 2 April 19th 30 Call
Long 1 April 19th 25 Put
Long 1 April 19th 20 Put

ZM – (7.58) (1030.00 Credit Collected)
Short 1 March 22nd 64 Call
Short 1 March 22nd 61 Put
Long 1 April 19th 65 Call
Long 2 April 19th 60 Put

TSLL – (1.49) (156.00 Credit Collected)
Short 1 March 15th 10.5 Call
Short 1 March 15th 10 Put
Long 2 March 15th 10.73 Call
Long 1 March 15th 9.73 Put

SQ – (8.29) (900.00 Credit Collected)
Short 1 March 15th 72 Call
Short 1 March 15th 62 Put
Long 1 March 15th 72.5 Call
Long 1 March 15th 82.5 Call
Long 2 March 15th 62.5 Put

SPY – (14.82) (2000.00 Credit Collected)
Short 1 March 15th 506 Call
Short 1 March 15th 499 Put
Long 1 March 15th 508 Call
Long 1 March 15th 518 Call
Long 1 March 15th 497 Put
Long 1 March 15th 495 Put

QQQ – (17.31) (2100.00 Credit Collected)
Short 1 March 15th 439 Call
Short 1 March 15th 429 Put
Long 1 March 15th 442 Call
Long 1 March 15th 449 Call
Long 1 March 15th 428 Put
Long 1 March 15th 425 Put

MRNA – (11.40) (1190.00 Credit Collected)
Short 1 March 15th 95 Call
Short 1 March 15th 85 Put
Long 1 March 15th 95 Call
Long 1 March 15th 105 call
Long 2 March 15th 85 Put

DKNG – (5.66) (316.00 Credit Collected)
Short 1 March 15th 46 Call
Short 1 March 15th 41 Put
Long 2 March 15th 46 Call
Long 1 March 15th 41 Put
Long 1 March 15th 40 Put

COIN – (27.13) (4090.00 Credit Collected)
Short 1 March 15th 135 Call
Short 1 March 15th 120 Put
Long 1 March 15th 140 Call
Long 2 March 15th 115 Put

IWM – (12.34) (1600.00 Credit Collected)
Short 1 March 11th 198 Call
Short 1 March 11th 192 Put
Long 1 March 15th 200 Call
Long 1 March 15th 207 Call
Long 2 March 15th 190 Put

BABA – (14.15) (1390.00 Credit Collected)
Long 1 March 15th 75 Call
Long 1 March 15th 70 Put

AMD – (21.70) (3375.00 Credit Collected)
Short 1 March 15th 185 Call
Short 1 March 15th 170 Put
Long 1 March 15th 190 Call
Long 1 March 15th 212.5 Call
Long 1 March 15th 165 Put
Long 1 March 15th 162.5

By Todd "Bubba" Horwitz|2024-03-15T10:01:08-04:00March 15, 2024|BAD, Sunday Night Options|Comments Off

About the Author: Todd "Bubba" Horwitz

For more than 36 years, Todd “Bubba” Horwitz has enjoyed a successful career in the financial industry. He began his profession in 1980 as was one of the original market makers in the SPX Trading Pit at the Chicago Board of Options Exchange. He has traded at all of the major exchanges in Chicago and is currently a member of the CBOT. In addition to his trading, for the past five years he has concentrated on writing, education, and a media career.

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